Changing Places

The yacht brokerage firm Dwight Tracy & Friends announced the expansion of its program for new megayacht construction under the direction of Phil Friedman, a former senior executive of Palmer Johnson Yachts and a 25-year veteran of large-yacht construction and project management.

“Phil’s broad background and in-depth experience in yacht design, construction, and new-build project planning and management makes him the natural focal point for our expanded new-build program,” Dwight Tracy & Friends founder and CEO Dwight Tracy said in a statement.

As president and chief executive of Palmer Johnson Yachts, Friedman was responsible for the executive management of a group of companies with annual gross revenue in excess of $60 million and nearly 600 employees across the country.

Under his direction, Palmer Johnson developed and sold several hundred million dollars in new yacht construction and major refit work and built and delivered a dozen luxury megayachts in the 100- to 200-foot range.

Prior to his stint at Palmer Johnson, Friedman was vice president of operations and chief financial officer of a multi-location luxury yacht dealership and chain of boatyards that employed 150 craftsmen in the commissioning, maintenance and refit of luxury yachts.

Venner has more than 25 years of marine industry experience in management, sales and operations.

“Rick’s background as a former boat dealer, marina owner and yacht manufacturer’s representative, along with his deep roots in the sailing and yachting communities, make him a perfect fit for Global Marine. I am confident that our clients will value Rick’s experience as we partner with their businesses and service their insurance needs,” Global Marine Insurance president Matt Anderson said in a statement.

Caterpillar Inc. will close two facilities in Texas and Panama and is considering shutting its engine manufacturing plant in Illinois as part of a strategy to boost profitability and better handle business cycles, according to Reuters.

Danielle Brown, vice president and chief information officer for Brunswick Corp., was recently honored among the "Most Influential Blacks in Corporate America" as chosen by Savoy Magazine, a leading African-American lifestyle publication.